Vacant parcels of land are growing rarer in Australia's inner-city areas. As we The population surges while vacancy rates drop sharply. They are quite scarce in today's marketplace.
However, for those who dream of constructing their perfect home from scratch, an exclusive chance has emerged in the verdant suburb of Longueville — situated merely eight kilometers northwards. Sydney’s CBD, or just a brief 15-minute drive away.
Nevertheless, there is a considerable caveat.
This small North Shore property, spanning merely 235 square metres, includes a big electrical substation as spacious as a shed —and it’s certainly not moving from this spot. Ausgrid, which is handling the sale of the land, has retained an easement over the area. This gives them perpetual legal permission to enter and manage the substation, regardless of who owns the property afterward.
Many would be familiar with the common scene—a large green box adorned with “hazard” warnings—typically found in urban and rural areas alike, usually not drawing much attention. However, this particular one stands out and is difficult to overlook.
Is it possible to eliminate an electrical substation from recently-acquired land?
Therefore, can the new owner take it off? To put it briefly: No. At least not without obtaining Ausgrid’s permission.
The substation needs to remain in place. The easement gives Ausgrid complete authority to manage, maintain, and access the property whenever necessary. Obstructing this equipment could result in severe legal repercussions.
Ultimately, what you’re purchasing is the property, yet you’ll be sharing it with an immovable piece of electrical equipment that cannot be relocated, altered, or overlooked.
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Using some creativity and enlisting the help of an adept architect—or what Belle Property calls “visionaries”—there might be alternatives available. For instance, one could incorporate the substation into the house’s architectural plan or employ innovative screens and greenery to minimize its visual impact.
However, the substation remains, at least for the time being, firmly in place. "This small yet versatile unit presents boundless opportunities... It’s an uncommon discovery within this exclusive community," Belle noted in the online posting, where no specific pricing range was provided. Despite this, the advertisement includes images taken strategically from above, showing both the lot and the substation; many areas are cleverly hidden behind a conveniently positioned tree.
This isn’t the first time Ausgrid has disposed of excess assets. Back in 2021, they offloaded four parcels in Wahroonga, followed by a 2.86-hectare site in Zetland during 2022.
The newest listing falls under the same category as several others from Ausgrid. According to Sam Harrison at Belle Property, who spoke with the Sydney Morning Herald, many young individuals have shown significant interest in finding an “affordable” way to enter this sector of the real estate market.
Ensure you conduct thorough research.
In this case, the substation is not likely to unexpectedly attract potential buyers.
However, in 2023, a family committed the "beginner mistake" of overlooking the land survey prior to constructing their ideal house, leaving them deeply disappointed. following the revelation of an "unsightly" green box situated mere centimeters away from their bedroom windows during an inspection.
The transformer box – a metallic enclosure housing electrical components designed to step down high-voltage electricity for safer home use – was intended to be placed there from the start. However, the family claims they were unaware of this until construction had begun.
They mentioned that during a standard inspection of the property’s development in Sydney’s west, they stumbled upon an unsightly issue. This led them to admit their serious error in neglecting to review the land survey.
The box can't be moved or adjusted in any way, and due to various landscaping restrictions, also can't be decorated in greenery. According to one property expert, it can even decrease the value of the home by up to 10 per cent.
In Longueville, where the median house price stands at around $5.66 million, it remains uncertain whether the substation will have a similar effect on the final sale price of the property.
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The article initially appeared on Yahoo News Australia.
https://au.news.yahoo.com/young-aussies-buzz-over-affordable-plot-in-affluent-suburb--but-there-is-a-catch-231602822.html